15th Sep 2014 08:25
LONDON (Alliance News) - Savannah Resources PLC Monday said it has issued 220,921 shares at 4.0372 pence, worth GBP8,919, to two professional groups in lieu of consulting fees for work they undertook for the company in relation to its operations in Mozambique.
The company has also agreed to issue 1 million employee share options with an exercise price of 7.0p a share, with an exercise period limited to three years and vesting on specific performance milestones and events.
Savannah Resources shares were down 2.5% at 5.12 pence Monday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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